in the press conference today. he said it was not to shut things down, just to look at the past decade. >> the dow and s&p up. stay tuned for many more earnings reports. including amazon. we will watch that one carefully. in the second hour of the "closing bell." see you tomorrow. >> and it is 4:00 on wall street. do you know where your money is? hi, everybody. i'm maria on the floor of the new york stock exchange. s&p 500 narrowly avoiding a three-day losing streak. take a look how we're finishing today as money moves in stocks in the final hour of trading. final 15 minutes of trading. jumping up about 15 point at 15,554. nasdaq up strong. facebook a big reason for that. up better than 30% on facebook today. 3605 and nasdaq finishes out.

investors are about to focus on other earnings. john fortt will break down the numbers. also talking to us about amazon. first an interesting market day today. considering we are ending flat it higher. joining me, wealth management. heather hughes, frank brad okay. good to see everybody. frank, let's kick it off with you. ending higher, feeling like this market want it continue going higher. we are flirting around record levels once again. >> you know, maria, you are dead on. this market wants to go higher. i think it is going to. as things continue to move. i think the investors have a sentiment to want it buy right now. the thing that worries me, longer term, when you look at it, still last night we have

about half of the s&p report, about three quarters beating on the top an bottom line. what worries me, the revenue number is coming in lighter than folks expect. i think that might have an indication that we could have problems down the road. >> yeah, the revenue, ben, has been impressive. let me get to john because the amazon numbers are out. stock looks like it is trading down fraction. john, over to you. >> maria, we have those numbers that looks like amazon is reporting revenue of 15.7 billion. that compared to wall street's expectation of 15.73. but there is a lot of 2 sent. wall street was hoping for 5 sent a share. but let's take a lock at guidance because that an issue to wall street was hoping for

something close to $17 billion in revenue for the coming quarter and amazon is saying there will be a range of 15.45 to 17.15 billion in revenue. haven't calculated the midpoint. also, same to expect in operating loss between $440 million and $65 million. that's a lot of 65 million. so the midpoint it will be in the $2 00 million loss range there. so that's gotting to disappointing as well. we will see if the stock is down more than 4% after hours. let me get you north american and international sales numbers to see where things are here, maria. >> thanks very much. loss of 2 cents. expectation is a profit. john stay with us. we will come back to you as you lean more info on this quarter. we will break down the numbers. aaron, edward williams.

aaron, let me kick this off with you. what is your knee jerk reaction. >> a little below expectations. we are about a penny profit and 15.8 billion. for the quarter i would say a little light. as you said, bigger concern could be goidance. a bigger loss than expected. focus on unit growth which was 50% last quarter. that's a big concern for investors and continue of high level investments weighing on margins. i think we will look for more clarity on that one in the conference call as well. >> more clarity for sure. it seems to me that for a while now, amazon has been more interested in generating revenue and getting the revenue number up than it has been in actual profitability. is profitability not a priority right now for this company? >> i think the key thing is for them to continue to grow their business. looking at the quarter an to the guidance, one of the things i would like to get is better sense for, maybe john can give it to us, is what the

international break down is like and if there is any issues there affecting guidance for example. maria, it is a key point, if you bring in that top line, you can bring in that profitability. >> go ahead, john. >> guys, i do have some of those numbers. north american revenue for the quarter just reported 9.45 billion international 6.2. based on expectations, i've seen international weaker, as a percentage. also taking a look at media versus electronics. media at 4.4 billion of revenue. e & o at about 10.4 billion. so that's about where you would expect it to be. but international looks to be softer. also want to get shipping cost to see how those might have played in. >> international seems to be a bit softer.

what does that tell you, aaron, about what is to come? is this an amazon story or a business and retail story given the weakness that we are seeing in international? >> yes, we definitely heard from other companies. slower growth and ebay sighting slower growth and google slower growth and uk. and if we are seeing some slowing revenue growth, that could be a concern for investors here. >> what do you want to do from an investment standpoint? with the stock of $296 a share? do i want it sell it here? >> yeah. stock is 60 times our 2014 numbers. pretty fully valued. we do think that it is -- you will see larger margin expansion in a few years but at this price we think it is pretty fully vallated. we think closer to mid 200s is a better point on amazon. >> 60 times earnings? >> correct. >> 60 times earnings. are you a buyer or seller here? ? >> no.

we are like aaron. we look at it and say it is a great business. great opportunity eventually. but it is an awfully expensive equity at this point. so i think that if we can find a better not try point, that the key thing for us. >> we are looking at starbucks as well. starbucks coming out with earnings as well. that stock is trading higher. but i guess broadly speaking, gentlemen, the revenue has been an issue here for this quarter. what is it going to -- what is it going to take to get revenue to move in profit we know can do well but that is all about cost-cutting, right? >> you know, profits is about getting the cost under control and the investment that they have and making sure you can harness it. i think the key thing is to figure out where the profitability can be in a relatively short period of time. >> all right. we will leave it there. gentlemen, thank you very much. appreciate your time on this. starbucks is trading higher right now on the heels ofity numbers. get to jane wells. she is breaking down that quarter. over to you, jane.

>> howard schultz calling it the best across the board performance. that's howard schultza. with 55 cents earnings per share wab the street was looking for 53. 3.74 billion. again the street looking for 3.7. that's up 13% from aier ago. same store sales up globally. a point up better than the street expected. it raised guidance for fourth quarter now saying it should have 59 to 60 cents a share. street is looking for 57. full year eps should be 223, about a nickel better than what the street wanted. back to you. >> thank you, jane. howard schultz will be with me breaking down numbers. he will be with me tomorrow on squawk on the street. join us for howard schultz, chairman and ceo of starbucks. 9:15 a.m. be there. we are back with our market guest. heather, let me get your take on

what we have been seeing on descent beats in terms of earnings. although revenue is still an issue. >> you're right. so revenue misses continues from the data we just heard now. and it would be nice to see some broader market participation and earnings side other than just the financials. corporate profit are at an all-time high as we know that revenue minus cost equate is coming from the cost where the decreasing costs from the inexpensive labor and we need top line growth as you stated. >> i want to get to zynga numbers. they are out right now. july wia boorstin looking at extended numbers. what can you tell us? >> reporting a also of 1 cent per share. wul street expected a loss of 4 cents per share. that is better than expected. but down from a gain of 1% ai

year ago. zynga came in at 188 million. that is higher than expected. wall street was looking for 183 million for that number. slightly better than expected in revenue and fairly significantly better than expected in terms of earnings per share. still a also. i'm continuing to dig through these numbers and see now zynga is doing. back over to you. >> julia, thank you. we're back with ben pace from deutsche bank. heather hughes. frank bradock. ben pace, what are you hearing from clients at this point in terms of your private wealth management business? where did they see this market going? are they putting money to work or on the side lines, largely? >> i think when you see the markets run like they have, you feel like you have to participate. like 0% cash. little bit adventure in bond markets over the past month with a hundred basis point increase in ten-years. so there's this sense of we have to get into the equities markets but we are expressing caution at

these levels particularly in the yield oriented names. we would rather get into more growth oriented names. but we do think this is a valuation expansion led market. that we will continue to go up. it may take breathers from time to time. but clients want to get back in and we are trying to do that as judiciously as possible. >> where do you want to be exposed? if you want it put a client's money to work, where did you put it? >> u.s. equities, large and small. into the sectors, we would like to like technology concern but there is concern about the larger cap technology companies so we are overweight healthcare. overweight -- >> in 2003, total bond mutual fund assets at 1.16 trillion. we are now at 3.47 trillion nearly a decade later. so the question going forward will be, where investors are

going to reallocate to employ their capital. >> great point. let me jump in. jane well, with starbucks, jane, what do you know? >> hi w, maria. ant introducing fiscal year 2014, expecting a revenue growth of approximately 10 to 13%. street was looking for 12%. covers that range. mid single range digit comp growth. still mid single digit. and it is expecting aesh earnings per share in 255 to 265 and street currently had 264. really at upper end of that range. this is the first guidance we are getting for 2014 for the company. back to you. >> thank you so much, jane. earnings coming out fast and furious. skpe expedia on deck. josh, what can you tell us?

>> disappointing. 64 cents, on revenue of 1.21 billion. the street was looking for 79 cents on 1.26 billion. you can see the stock down hard in the after hours. company saying they knew they were facing second quarter head winds and those which we expect as well as some we didn't materialize. that stock hit hard in after hours. >> thank you very much. we are talking markets with heather, ben and frank. frank, let me get your opinion in terms of investor psychology. you what do you think is the catalyst for the rest of the year? does it stay optimistic? >> i think so, maria. probably the next three to six months, investors want it buy. the idea is, where else will you go? you can't go to bonds at this point given what is going on there. you aren't getting anything in cash. you have to be invested in the equity market to get any kind of

return. >> i know, but rates are moving higher, slowly. are you expecting rates to move significantly higher this year or in 2014? to take the allure away from equities and put it further on fixed income? is that in cards? >> i don't think so. at this point we will see the ten-year between 2.6 and 3 between here and the end of the year. i think you will see a bump up. but we are back around 2.6 around the end of the year. >> thanks, everybody. see you soon. thank you so much. earnings parade is on. international paper reporting today that second quarter profits nearly doubled. on-line retailer amazon may have played a part as ip is the largest provider of shipping boxes to amazon. we will talk ceo john faraci next. and preet bharara indicted today. >> becoming a variable market

for market cheaters. >> stay with us on the developments.

julia boorstin here mining the report. >> the social gamer said they made a focused choice not to get a license for gaming in the united states. they have been pushing into on-line gambling with games like on-line poker in the uk. but it decided its biggest opportunity it is to focus on free to play social games and that while it continues to evaluate its united kingdom test, it won't do that in united states. i think this is a surprise for investors as they hoped for an upside as zynga translated popularity with social gambling on-line and brought in real money to that. bring in a couple more key statistics. zynga's daily actist users

decrease 40% year over year and 20% daily. the number of players paying decreased 53% year over year and on a consecutive basis were down 22%. now the one silver lining here is the fact that of those people who are paying to play, that did increase 14% year over year and 6% from the first to second quarter. so fewer people are paying but those who are paying are paying slo slightly more. back over to you. >> meanwhile this market ending a touch higher after spending much of the day in the red. bob pisani, trading light and uneventful, yet wild moves once again. >> i think the bottom line is it is even on the advanced decline line. real problem is interest rates. look at major sectors. modest advantages, that is nice to see. talk of bottoming in europe. maybe holding on to, 7.5% gdp.

put up the ten-year. that's interesting, the interest rates, ten-year yield. when interest rates start moving -- that's the price, sorry. ten-year yield, white line. the stock market has problems. it is not perfect but, boy, you want stability in interest rates right now. for home builders, just an ugly day. order rate below expectations. real problem seems to be a lot of first time buyers have problems with interest rates. horton's cancellation rate with 25%. 20% and yeah, that's kind of significant going from 20 to 25%. a bit aftof a surprise. wci pulled it off. this is a florida home builder. ipo priced at $15. look at that. ending just above 15.

impressive that it held right near 15. an important day, folks, we are half way through on the earnings situation. right now about half of the stocks reporting 4.5% earnings game. i want it mention another ipo out there today. this specializes in cancer therapeutics. did very well overall. bottom line is 12 to 14 price range. you can see where it ended up at 1988. maria, too strong to say that cancer therapy is this year's hot ipo. but we are seeing a lot of biotechs coming down the road. a lot of them specialize in cancer therapy. i think there is something going on here. i think these companies have good sponsorship and great sign for science helping all of us getting older, helping us out. >> you're right. biotech has been hot. i understand there is 400 drugs in development right now in the pipeline in terms of -- you don't know that all of those come to market, obviously.

but there is a lot happening. i agree. bob, let me ask you about sac capital. have you been so smart to focus on the markets. couple of upstairs trading desks told me they were a little nervous about what happens if and when we do get an indictment. we did get an indictment. was that part of the nervousness we showed today on wall street because of the volume? >> i can't site a direct correlation. i can tell you the street is nervous because of the impact sac has on the business. it is widely believed down here, there are 3 to 5% of the volume an they are one, if not -- they are certainly in the top five or six commission payers on wall street, maria. for example, wellington is the number one commission payer on wall street. some other ones like fidelity, also paying huge commissions. but sac is right up there. certainly in top ten commission payers. and wall street hasn't been making a lot of money recently. stock trading game hasn't been very good.

that inflew influences everybod business down here and i think that makes people nervous. >> we will see what impact that has. thank you very much. global paper company, international paper. ip stock up 16%. 6 1/3%. ceo john faraci joins us. >> thank be, maria. i would like to be in the studio with you -- >> we would like to have you here. tell us about the result. >> we have good results in packaging. good results in brazil. good results in europe. eastern europe and russia. we have good momentum. even in the economy. >> i'm glad you mentioned brazil. there haven't been a lot of good

things happening in brazil the last couple of months. the last year. >> the economy stumbled a bit. >> what happened in brazil. >> i think a variety of things. economy is getting weaker. that helps companies like international paper, we're exporters. but brazil may have lost the plot a little bit economically, but i think the prospect are still good growth. >> really extraordinary when you lock at bautista. once the richest man in brazil. the last time you were with us, we talked about this. your company's dividend yields 2.41%. last time we were together, you said you o would revisit that 2.41% dividend. are you planning an increase? >> we're planning on revisiting it later this year. what we told investors is we pay out 30 to 40% of our free cash flow. we are a little bit below that now. so with the track we're on, we should be increasing our dividend. >> and as happens around your

shareholders meetings. is that a 2013 affair? >> it is a -- the board takes that up later this year. and you know, we will be relooking at our dividend going forward. >> we will be watching that. let me ask you to walk us through the world, john. your company has a great vantage point in terms of what is going on. you say brazil is doing well and that certainly is a ps. we know what is going on in europe. we know we have seen a slow down in china. talk to us about the strength and weakness in the u.s. and around the world, more importantly. >> let me just use our packaging business in north america as a barometer. we ship 15,000 customers and 55,000 locations. it is a short-cycle business. there are segments that are doing better. particularly durables. we are seeing the ill pact in housing. no question. and more moves. we make a lot of moving boxes. customers that supply movers. there is more of that happening. on-line retail is pretty strong.

but branded products, food products, private label producers. we are take something share. but consumer spending is the linchpin to the economy. 70%. until consumers feel confident and we see us sustainable in inincreases, i think we are stuck at 2%. france, italy and spain is seeing the impact of what has been happening in europe the last two years. although our business in morocco and turkey is packaging again. china is weak because markets like europe and the u.s. is soft. domestic business is china is doing better. china is growing its middle class and domestic consumption is increasing at a slow rate, but increasing in china. >> john, great to have you on

the program. thank you so much. >> thank you, maria. >> john faraci, ceo of international paper. wall street says interest rates, black stone chairman, warning they are the same thing. we will explain. dennis gardner will weigh in on that. and coming up -- >> the scope of illegal trading was deep and wide. >> big news today, sac capital has been indicted. we will discuss what lies ahead for the multibillion dollar hedge fund and its ceo, steve cohen. our wires. watch out for space heaters. clean the chimney. get one of these. cool the romance. and of course, talk to farmers. hi. ♪ we are farmers bum - pa - dum, bum - bum - bum - bum♪

any amount of reduction ever liquidity, even though it will still be a lot, will have the effect of tightening. if you go from 85 to 60, that is still sort of like tightening. >> that was byron wien on squawk box yesterday. does that mean cutting that number is like tightening? gentlemen, thanks for joining us. do you agree with that? 85 to 60 in bond buying, is that essentially a bond tightening. >> well i hate to disagree with mr. wien, but i don't agree.

what's important is the psychology and on that, byron is absolutely correct. the reduction in the amount of a accommodation will be seen as a tightening. but is it actually a tightening? no. >> it may not actually be a tightening, greg, but at the end of the day if it moves interest rates higher, it is tightening. >> if the fed boys more bonds next year, that is an easing of policy. if the fed signals fewer bond, that is a tightening. it all depend on what they do in september relative to that expectation. looks to me like they are settling in around an expectation of the federal taper of 85 to 60 in september. my gut senses with the weakness of the gdp numbers and how low

inflation has been. >> can they really start buying lower and lower numbers of bond when in fact we're not even at 2% economic grej? >> i think it is a big debate right now maria. an debate, they ought to be having that debate. i think the best way it approach that question is by saying we want to get this tapering process under way. but we have a number of ways of making sure that we don't trip up the economy in the process. i think the way they are thinking about it is we get the tapering under way. if necessary we can go more slowly or change goidance on federal gunds rate. well keep it at zero longer than expect expect. >> what do you think, dennis? >> i think that's exactly what feds do. they begin the process they told us they begin the process in september. were they not to, that would be a surprise. i think after that it becomes a matter of mathematically reducing it month by month. unless economic activity aep data comes in more than expected. that too would be a surprise.

i think it would be very consistent over a brd period of time. >> this is probably the most telegraphed policy. >> of course it is. >> i have ever seen. any of us have ever seen. does it impact the market? >> of course it does. it changes psychology. >> we would hope we would know it is coming. but we are all human beings and we respond to interesting news in very diverse manners. you can prepare yourself for almost anything. but when it finally does come, you still get scared. the market would not take it very well. >> what do you think, greg? >> depend on how the fed affects expectations. i have learned over years it is not what a fed does at a particular meeting that moves a market, because as you say, it is so well telegraphed. but it signals what they do next. if they say dial back by 20 billion and in a press conference bernanke says it it will stay at this level for the foreseeable future, the market will say, hey, they aren't to zero any time soon, so it is off to the races. >> i've been in this business

for 35 years and i can remember back in the day when you didn't know what the fed was doing unless you looked at stop out rate on ree repo. and you got the minutes of the meeting five years after the meeting was over. we are almost too transparent and it is nothing but a psychological circumstance. >> dennis, all this transparency was designed to put folks like you out of business and it has done just the opposite. >> because we still don't know what, you know, as meant with the commentary might be. >> the more they communicate, the more it gives us to talk about. >> you can have a lot of information out there. but what you do with it and how you parts it out how you understand it, that's the critical thing. >> we have taken fed watching to be be an english major's prerogative. now there are sentences like nothing i've ever seen before. >> once again, floating around record highs -- >> sure it is. it is a bull market.

that's what it is. it will continue to be a bull market until it stops being a bull market. i haven't learned many things in all the years i've been here but that the best one can say. >> number one, revenue stinks. number two -- >> doesn't matter. >> okay. but number two, you have an economy going below 2%. >> doesn't matter. >> number three, europe is a mess. >> doesn't matter. >> doesn't matter. >> doesn't matter. >> only thing that matters is the fed? >> only thing that matters is stock prices are going up. anybody who tried to fade it, anybody who tried it argue against it has been proven incorrect. it will stop when it stops. that's the best that one can say. >> greg, even when you look at valuations, you're still talking about it 14, 15 times. >> but on the other hand i think that it isn't all about the fed. in fact maria, i think the one thing i find encouraging is in the last six weeks the fed has essentially said, hey we will rip that band-aid off and start dialling back on this liquidity keeping you alive. the mark set kind of actually held up well. here we are hanging in at record

levels. so there's got be something fundamental. i don't see the element after strong bull market here. >> to keep the metaphor alive, i don't think they have ripped the band-aid off. they pulled it off a little bit. it is a hurt a little bit and they tell you on the side lines, we got knowledge one just in case you start to bleed again. >> can this market stay with where it is when you've got revenue in the decline? >> sure it can. >> it's negative. >> sure it is k. it has been. >> that tells me i don't see a market demand. >> end market demand for what? >> products. if revenue is negative -- >> wander around norfolk, virginia. go to raleigh, north carolina. go to cleveland, ohio. bo go to chicago. people are on the roads driving. people are in the stores buying. it sure doesn't look like it.

>> it doesn't look slow. >> it doesn't. >> but the numbers show. it is official today, firm sac capital is charged with securities criminal fraud. just how strong a case prosecutors have? what is the fate of the hedge fund ceo steve cohen? big name companies on the move. right here for round up. back in a moment. and experience the connectivity of the available lexus enform, including the es and rx. ♪ this is the pursuit of perfection. a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments.

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welcome back. well, the shoe finally dropped on sac capital today. a lot of developments after that this afternoon. over to you, kayla. >> sac is one of wall street's biggest client. last october recorded $51 billion in assets including leverage. impairment to its business could carry countor party risks. a spokesman for sac said it expect to reach a protective order to protect investors. u.s. attorney for southern district of new york, pre preet bharara was not to shut

the firm down. >> our action today does not seek it freeze any of sac's assets and we are always, in this case and in other cases, mindful to minimize risk to third party investors. in other words, we have not today restrained any money and we will discuss with the company a reasonable method going forward to protect all parties, parties, parties,parties legitimate interests. >> he characterized it as pervasive insider trading taking place for over a decade. former employee richard lee pleading guilty to insider traying for yahoo! and 3c. the 41-page indictment describe's lee's trading on this nonpublic information and hired by sac after red flags were

raised to cohen he was previously involved in insider trading when working for citadel. citadel said lee was fired years before for misconduct. and lee's attorneys says he is looking forward it moving on with the next stage of his life. >> andrew stoeltman of stoeltman law offices says it should be shut down. also with us is michael balkener of balkener and associates. good afternoon, gentlemen. you say sac capital should be shut down. that's not the way it works. they will defend themselves. what are you saying? >> i think investors will end up doing it. when you have a company under criminal indictment, especially when they manage money, that's tough for the company to overcome. i don't think there is any question as this case runs

through the course of criminal justice system will firm will be shut down. steven cohen may be able to manage money for money for additional employees, i think this is over. >> what about innocent until proven guilty. sac has never encouraged, promoted an takes its management seriously. handful of men who admit they broke the law does not reflect the integrity and character of those who worked for sac the past 21 years. we will continue to work through these matters. >> i think the 41-page indictment works its way through the system and people have a chance it look at it, i think they will be very concerned. e-mail, text messages, six employees plead guilty to insider trader who used to work for sac. that's extremely problematic. >> could steve cohen face criminal charges himself? is that off the table with the sac civil charges already brought? >> i think defacto that is off

the table. have you civil charges brut by sac. you can the company itself being criminally indicted. i think steven cohen will be in the clear. he is not going to be indicted. but effectively i think the company will be shut down as criminal charges move forward. >> michael balkener, how do you feel about all this? weigh in here. >> i think as star as steven cohen charged or not charged, i think any conduct they could have charged him on, they have been investigating him for ten years. if there was new information they would have brought it. however, if something comes to light that has statute of limitations, cohen could still have problems here. the uts attorney's office was unable it indict and put steve cohen in jail. what they did is give his money the death penalty. they shut down his ability to do bisz. that going to happen.

investors won't stay with him much longer, in my opinion. he will be relegated it trading his own funds. if the allegations of the indictment are proved true, getting corporate liability in a criminal case is not difficult. it smells more like a civil period. they have show that employees engaged in criminal conduct for the corporation or while employed by the corporation p. that they knew they were, intended to corporation. you don't have to show the corporation had nothing edge. if if the corporation's compliance was terrific and they did everything right, you could still have corporate liability. this is a really difficult case. i think what preet bharara is doing here, like some agencies, they have faith, they took it, will have their own lawyers try it.

it is possible there could be damage well beyond $10 billion. there could be treble damage as a result of insider trading in the civil matter. steve cohen could be looking at very, very fm ramifications here personally. >> and that's -- that's a good point too. remember the u.s. attorney's office in new york has now indicted 80 people for insider trading related offenses. they've got convictions or people to plead guilty in 73 cases. unlike some u.s. attorney's office, the one in new york knows what it is doing. so i think cohen faces an uphill climb. >> it is absolutely right in terms of preet bharara's office. >> do you think this is fraud? >> the allegations go back to 1999. you have six employees who have been criminally indicted. two more face trial in the next six to nine months. if this isn't systemic fraud and i have called it a jambalaya of criminal fraud, i don't know what it.

>> wow. >> i'm really concerned about these types of charges. you have six or sevenor eight people out after firm that has a thousand individuals working for it. you know, that's not systemic. this is not the type of thing where you shut down a business. they did it to arthur anderson and thousands of people lost their jobs. when prudential securities had problems years ago in connection with all of the limited partnership problems and there was that famous book written on it "the serpent on the rock", they didn't shut down prudential securities, they didn't shut down jpmorgan chase. if you are too big, they won't shut you down. but steve cohen, the world can live without him so they will try to shut him down. >> but wait, maria -- >> i'm bothered by it. >> final word. >> how many shredding incidences have we had since arthur anderson has been indicted for shredding? zero. in this case, i think it is

warranted. >> thank you, gentlemen. appreciate your time tonight. we will take a break. corporate earnings continue to flow down wall street. we will round up the action right after this break. stay with us. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally.

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the surprise was the bottom line. a loss of two cents. analysts had expected a profit of five cents. more of a concern, the guys looking for current quarter revenue, between 15.45 and 17.45. the street had been looking for 17 billion. we also heard from zynga, reported a loss of one cent. top line basically in line, but as for q 3, looking for a loss of between five and nine cents. analysts wanted to see a loss of just two cents. the street was looking for 47 million. also importantly here, zynga saying it will not pursue real money gaming in the u.s. expedia also posting results. the online travel agency reported 64 cents on 1.21 billion. that was a miss. the street wanted to see 79 cents on 1.26 billion. sales and marketing costs jumps

1.3% a quarter. finally, starbucks reports and best estimates, global comps up 8%. that beat forecast. also raised its full year earnings guidance. maria, back to you. >> thanks so much. what will move your money tomorrow? wall street's stock pros will give you a leg up. right after this short break. stay with us. humans. even when we cross our "ts" and dot our "i's", we still run into problems.

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more breaking news on sac capital. >> we've been going over all of the charges that have been filed today. of course, so much attention was paid to the criminal charges against three entities, but there is also this accompanying civil money laundering complaint and that could be the thing that does this firm in if the government prevails. the u.s. attorneys office has filed this complaint that could seek billions of dollars from an entire range of sac capital funds. they say are ill gotten gains from this allegedly unprecedented string and culture of insider trading.

under this civil forfeiture complaint, they're seeking any and all assets. people worth some $15 billion. they're down from that, but this is the issue that the firm is going to be to be dealing with. the u.s. attorney spoke about all of this at his news conference this morning, or afternoon, i should say, and talked about the civil money laundering complaint. the u.s. attorney has not put a figure on that. but of course, there are figures out there in the billions of toll lars and if if you read through this, it's clear that's quha the government is going for. back to you. >> thanks so much, scott cohn. tomorrow, we've got a lot of surprises in store. join us for closing bell tomorrow. back in a moment. what makes the sleep number store different?

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keep your car healthy with the works. $29.95 or less after $10 mail-in rebate at your participating ford dealer. so you gotta take care of yourself? yes you do. you gotta take care of your baby? oh yeah! welcome back. let me show you the amazon numbers. the stock is down. the company was put at a loss of two cents a share. the second quarter revenue came in at $2.70 billion. just slightly below the 3 billion that was expected. stock took a hit. down just about one and a quarter percent and it is a miss and we're watching amazon.com

shares trade lower. the rest of the market today not bad. could see some buyers come in today. dow jones industrial average finishing strong. nasdaq is up 25 points. s&p 500 up about four points. thanks for being with me. i'll talk to you on facebook and twitter. stay with "fast money," it starts right now. from new york city's time square, i'm melissa lee. our traders -- get straight to the story. amazon reporting earnings that fell short of the street's expectations continue to spend big money in tech and content. the stock trading violently in the after hours session. down 5%. it is lower right now. amazon is already up 40% so far this year. so what